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ParFX Adds Currency Pairs

Tradition’s ParFX has added six crosses to
its list of currencies supported on the platform, including the Hungarian
forint.

Par says that in recent years, the
Hungarian forint has become “increasingly popular among the global FX trading
community”, with approximately 90% of Hungarian forint trades executed outside
of Hungary’s domestic borders. According to the Bank for International Settlements,
it is one of the 25 most actively traded currencies in the world.

The introduction of EUR/HUF to ParFX
follows the recent addition of the forint to the CLS settlement system.

ParFX also announced the addition of a
number of CLS-eligible currency pairs, with AUD/JPY, NZD/JPY, USD/SEK, USD/NOK
and USD/DKK being introduced.

“The addition of the Hungarian forint and
other currency pairs is in line with our aim to increase ParFX’s global reach –
both in terms of the range of participants and currencies traded,” says Dan
Marcus, CEO of ParFX. “The HUF in particular has been identified as a currency
with considerable growth potential, and there is strong interest from customers
to trade it in the fair and transparent environment offered by ParFX.”
 

Gary Harcombe, senior spot emerging markets
trader at UBS, says, “The Hungarian forint has met a number of important
milestones in recent years, becoming one of the world’s top 25 most traded
currencies, and more recently, gaining eligibility for CLS settlement. Its
inclusion reduces the risk and funding required to trade the forint and lays
the foundations for further growth. There is strong appetite amongst foreign
exchange investors to trade the HUF.”

Colin_lambert@profit-loss.com  Twitter @lamboPnL

Colin Lambert

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